NCI vs RNG: Correlation
How closely do Neo-Concept International Group Holdings Limited - Class A (NCI) and RingCentral, Inc. (RNG) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCI and RNG?
Over the past 3 years, NCI and RNG moved with a correlation of 0.40, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.40 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 4076.6 %².
Within NCI's tracked universe of 20 assets, RNG comes in at #6 by 3-year correlation. The last year tells two different stories: RNG led by 130.1 percentage points, -5.8% for NCI against +124.3% for RNG. Note the risk asymmetry: NCI runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
NCI vs RNG: side by side
| NCI (Neo-Concept International Group Holdings Limited - Class A) | RNG (RingCentral, Inc.) | |
|---|---|---|
| 1-year return | -5.8% | +124.3% |
| 5-year return | n/a | -73.1% |
| Volatility (ann.) | 184.4% | 52.2% |
| Beta vs S&P 500 | -0.24 | 1.54 |
| Max drawdown (3Y) | -99.0% | -48.6% |
| Market cap | – | $5.7B |
| P/E (trailing) | 154.5 | 52.7 |
| Dividend yield | 0.00% | 0.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCI | RNG |
|---|---|---|
| 2022 | – | -81.1% |
| 2023 | – | -4.1% |
| 2024 | – | +3.1% |
| 2025 | -65.8% | -17.5% |
| 2026 | +36.7% | +138.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCI and RNG good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NCI and RNG?
The NCI/RNG correlation stands at 0.40 on a 3-year window (1 year: 0.55, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RNG a good diversifier for NCI?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nci-vs-rng.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nci-vs-rng/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NCI correlations · RNG correlations
